еBook Print Item Direct Materials Purchases Budget Anticipated sales for Safety Grip Company were 53,000 passenger car tires and 16,000 truck tires. Rubber and steel belts are used in producing passenger car and truck ires according to the following table: Passenger Car Truck Rubber 34 lbs. per unit 79 lbs. per unit Steel belts 4 Ibs. per unit 10 Ibs. per unit The purchase prices of rubber and steel are $3.5 and $4.6 per pound, respectively. The desired ending inventories of rubber and steel belts are 50,000 and 11,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 58,000 and 8,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 20Y9. Safety Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 20Y9 Rubber Steel Belts Total Pounds required for production: Passenger tires Ibs. Ibs. Truck tires Total pounds available Ibs. Ibs. Total units purchased Ibs. Ibs. Unit price Total direct materials to be purchased

еBook Print Item Direct Materials Purchases Budget Anticipated sales for Safety Grip Company were 53,000 passenger car tires and 16,000 truck tires. Rubber and steel belts are used in producing passenger car and truck ires according to the following table: Passenger Car Truck Rubber 34 lbs. per unit 79 lbs. per unit Steel belts 4 Ibs. per unit 10 Ibs. per unit The purchase prices of rubber and steel are $3.5 and $4.6 per pound, respectively. The desired ending inventories of rubber and steel belts are 50,000 and 11,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 58,000 and 8,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 20Y9. Safety Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 20Y9 Rubber Steel Belts Total Pounds required for production: Passenger tires Ibs. Ibs. Truck tires Total pounds available Ibs. Ibs. Total units purchased Ibs. Ibs. Unit price Total direct materials to be purchased

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Description: **Direct Materials Purchases Budget for Safety Grip Company**Anticipated sales for Safety Grip Company were 53,000 passenger car tires and 16,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires according to th

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Seranno Inc. budgeted production of 55,000 personal journals in 20Y6. Paper is required to produce a journal. Assume 104 square yards of paper are required for each journal. The estimated January 1, 20Y6, paper inventory is 286,000 square yards. The desired December 31, 20Y6, paper inventory is 315,000 square yards. If paper costs $0.16 per square yard, determine the direct materials purchases budget for 20Y6. If required, round your final answer to the nearest dollar.$
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